The Kenyan Shilling is displaying a strong tight trading range short term, but one that often sees the sudden emergence of spikes gyrate its value momentarily.
The following are the most recent pieces of Forex technical analysis from around the world. The Forex technical analysis below covers the various currencies on the market and the most recent trends, technical indicators, as well as resistance and support levels.
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After consistently battling support levels in the last four weeks, the USD/BRL has displayed bullish sentiment the past two trading sessions as risk-averse trading has taken hold.
The USD/SEK experienced a sudden surge higher yesterday and resistance levels were brushed aside.
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Technical traders who embrace pure charts can potentially learn to love the USD/PKR if they have enough speculative spirit and risk management experience.
AUD/USD: 0.7250 area remains pivotal
The Australian dollar initially tried to rally during the trading session on Monday but gave back the gains as we have reached towards the 0.72 level.
Silver markets broke significantly to the downside during the day on Monday, slicing through the $26 level.
The British pound initially tried to rally during the trading session on Monday but gave back the gains at the 50 day EMA.
The Bank of England has taken another step to prepare for possible negative interest rates.
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Early trading this morning in the USD/MXN has seen bullish momentum add onto Friday’s late trend, which developed after critical support at 20.80000 into focus.
Speculators within the USD/ZAR have another opportunity standing in front of them to test trends today.
While the USD/INR has delivered a bearish trend over the mid-term it has not come without a fight.
The Singapore Dollar is testing values that were traded in December of 2019, meaning the USD/SGD is within a price range experienced before global fears of coronavirus cascaded through the markets.
Sweden continues to report a steady and low rate of new Covid-19 infections, praising its approach to the initial wave, which faced heavy criticism due to an unacceptably high death toll.
Switzerland witnessed a gradual increase in new Covid-19 infection since mid-June when it started to open its land borders and eased restrictions.